The dual life of stablecoins: A lifeline for citizens and a tool for sanctioned entities involved in Venezuela and Iran's economic crises. Recent turmoil in Venezuela and Iran has again put the spotlight on the duality of stablecoins, with the US dollar-backed assets such as Tether acting as both a savior for embattled citizens and a tool for blacklisted entities to evade sanctions. Both Venezuela and Iran have been catching headlines at the beginning of 2026 amid political uncertainty and civil unrest. With both facing a host of sanctions, inflation, political instability, and a cost-of-living crisis, crypto and stablecoins have become an important part of the ecosystem. Iran has seen protests erupt across the country over the past two weeks in response to worsening economic conditions and the Iranian rial tanking to record lows against the US dollar. Read more
Iran’s authorities indicated on Saturday that they could intensify their crackdown on the biggest anti-government demonstrations in years, as the death toll rose to 65 and the Revolutionary Guards blamed the unrest on terrorists, vowing to safeguard the governing system. Major Iranian cities were gripped overnight by new mass rallies denouncing the Islamic Republic, as activists on expressed fear that authorities were intensifying their suppression of the demonstrations under the cover of an internet blackout. The two weeks of protests have posed one of the biggest challenges to the Iranian authorities, although Supreme Leader Ayatollah Ali Khamenei has expressed defiance and blamed the United States. Following the movement’s largest protests yet on Thursday, new demonstrations took place late Friday, according to images verified by AFP and other videos published on social media. This was despite an internet shutdown imposed by the authorities, with monitor Netblocks saying early on Saturday that “Iran has no...
Protests began in Iran in response to worsening economic conditions and as the Iranian rial hit record lows against the US dollar. Internet access in Iran was cut on Thursday by the government as protests spread across the Middle Eastern country, raising the question: Can its citizens still use crypto? Around seven million people, out of the country’s 92 million population, are estimated to be crypto users, according to Statista. TRM Labs tracked roughly $3.7 billion in total crypto flows in Iran between January and July 2025. But internet access has been cut off in the country as protests began over worsening economic conditions, and after the Iranian rial hit record lows against the US dollar. Read more